Southern California -- this just in

The company behind some of the world’s largest fireworks displays, including those at the Rose Bowl and the Olympics, has agreed to pay $29,000 to federal authorities for incorrectly storing large amounts of explosives.

Pyro Spectaculars Inc. in Rialto agreed to pay the sum after inspectors from the federal bureau of Alcohol, Tobacco, Firearms and Explosives found in March that about 62,000 pounds of explosives were stored in too few containers.

“This case is historic for ATF and the explosives industry in that this is the first time a forfeiture has ever happened for storage violations,” said John A. Torres, special agent in charge of the agency's Los Angeles office.

The company worked with ATF to mitigate the safety concerns and instituted procedures to ensure compliance, said Special Agent Christian Hoffman.

Pyro Spectaculars was founded more than 90 years ago and is among the largest fireworks companies in the nation. It operates a school to train people in the use of professional fireworks for display purposes.

In 1996, aerial fireworks being loaded onto a truck in Rialto erupted in flames and exploded, killing an employee, injuring another and showering a housing tract with burned debris.